Many NRIs believe that they are not liable to Wealth Tax at all. This is not true. Like Residents, NRIs are also liable to pay Wealth Tax in India.

The assets chargeable to tax are : immovable property (other than one residential house, or plot of land having area 500 square meters or less), jewellery , cash exceeding Rs 50,000 and propelled vehicles i.e. cars etc.